The Wall Street Journal said BlackRock approval would have an “electric effect” on the crypto market.
But, while the law says the SEC must announce a decision on BlackRock’s application by Feb. 14 …
I believe an answer will come much sooner …
Beyond BlackRock’s spotless approval record and its cozy ties to the government regulators … it added a sweetener to the deal.
An offer the government can’t refuse.
It would allow for “surveillance” of the trading platform by the Nasdaq, granting it confidential information on buyers, sellers and prices.
Ostensibly, this is to stop manipulation of the spot price of Bitcoin.
But it would also give the government access to this information. Which essentially grants it the power to monitor individual investors and potentially limit investments or gains.
Plus, all your information would be shared with the IRS in real time.
In other words, the deck would be stacked against the individual investor and in favor of the government and Wall Street.
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